Unemployment in Greece set to hit new highs

Finance minister has presented budget which includes $21bn in cuts, mainly from pensions, in order to secure bailout.

Greece’s government says it will run out of money next month unless it gets the next batch of international bailout money, which is dependent on painful austerity measures.

The finance minister has presented the 2013 budget which includes $21bn in cuts, mainly from pensions and public sector wages.

Greece’s unemployment rate could break EU records, surpassing even Spain which hit 25.8 per cent in September.

Al Jazeera’s Nadim Baba reports.

Source : Al Jazeera

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